Universe Pharmaceuticals INC (NASDAQ:UPC) Short Interest Down 93.6% in July

Universe Pharmaceuticals INC (NASDAQ:UPC) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 15,446 shares, a drop of 93.6% from the June 30th total of 239,483 shares. Currently, 6.4% of the company’s stock are sold short. Based on an average trading volume of 748,993 shares, the short-interest ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Universe Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Universe Pharmaceuticals Price Performance

NASDAQ UPC traded down $0.40 during trading hours on Friday, hitting $3.39. The company’s stock had a trading volume of 43,299 shares, compared to its average volume of 4,162,160. Universe Pharmaceuticals has a 12 month low of $2.00 and a 12 month high of $17.96. The company’s 50 day simple moving average is $3.98 and its two-hundred day simple moving average is $3.50.

About Universe Pharmaceuticals

Universe Pharmaceuticals, Inc is a clinical‐stage biotechnology company focused on the discovery and development of novel therapeutics for ocular diseases. The company’s primary research efforts center on small-molecule compounds designed to address unmet needs in glaucoma, ocular hypertension and post-surgical ocular inflammation. By leveraging targeted enzyme inhibition and proprietary formulation technologies, Universe aims to bring forward topically administered medications that combine efficacy with an improved safety profile versus existing treatments.

The company’s lead candidate, UPC-1001, has been advanced into clinical trials for the treatment of open-angle glaucoma and ocular hypertension, where it seeks to lower intraocular pressure through a unique mechanism of action.